Commercial loan under $150,000

[Phillip Gant]

OK everyone here's my situation I have a 5 unit property in New York that is asking 120k, I think I can get it for a little less. I have about 40k and would like to finance the rest. It currently has 4 units rented and the 5th needs some updates (at least 5,000). What do you think is the best way to finance? Seller will not finance. Thanks for the thoughts!

[Tom S.]

@Phillip Gant  Continue to keep calling local banks.  The last two commercial loans I did were $68k and $75k.  Both for me were local VT banks, although they only lend in VT.  But banks that lend that low are definitely out there.

Good luck!

- Tom